Microsoft reports better than expected earnings

Microsoft, the world's largest software firm, has posted better-than-expected earnings for the October-to-December quarter.

The firm reported a net income of $6.56bn (£3.94bn) for the quarter, up from $6.38bn a year earlier.
Its earnings were boosted by strong sales of its new Xbox game console and its Surface tablets during the holiday season.
The company also saw strong demand from businesses for its cloud services.
Overall, the firm's revenue rose 14% during the quarter to $24.5bn. Its shares rose close to 4% on the news in after hours trading.

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